NCLAT upholds ‘clean slate’ principle, rejects Sintex shareholder claim

The Insolvency Appellate Tribunal NCLAT has affirmed the “clean slate principle” under the Insolvency and Bankruptcy Code (IBC), which bars any attempt to reestablish pre-resolution shareholders’ rights, and rejected the claims of a shareholder of Sintex Industries. A two-member NCLAT bench dismissed the appeal by a Kerala-based investor seeking around Rs 110 crore in compensation…

India becomes key petrol supplier to Russia amid attacks on refineries, fuel shortages

India’s role as a major gasoline supplier to Russia has surged recently, particularly after Ukrainian drone strikes impacted Russian refinery activities. In August, Russian gasoline imports hit unprecedented levels, with India emerging as a central contributor. Much of this gasoline was transported using sanctioned ships and involved intricate transfer practices. Increased crude oil imports from…